E Fund Management Co. Ltd. Increases Holdings in Caterpillar Inc. (NYSE:CAT)

E Fund Management Co. Ltd. increased its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 301.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,091 shares of the industrial products company’s stock after purchasing an additional 2,321 shares during the period. E Fund Management Co. Ltd.’s holdings in Caterpillar were worth $1,030,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in CAT. Southland Equity Partners LLC boosted its position in Caterpillar by 4.0% in the 1st quarter. Southland Equity Partners LLC now owns 784 shares of the industrial products company’s stock valued at $287,000 after buying an additional 30 shares during the last quarter. Davis Investment Partners LLC boosted its position in Caterpillar by 2.1% in the 1st quarter. Davis Investment Partners LLC now owns 1,454 shares of the industrial products company’s stock valued at $541,000 after buying an additional 30 shares during the last quarter. Hilltop National Bank boosted its position in Caterpillar by 1.2% in the 2nd quarter. Hilltop National Bank now owns 2,636 shares of the industrial products company’s stock valued at $878,000 after buying an additional 31 shares during the last quarter. Exchange Capital Management Inc. boosted its position in Caterpillar by 3.3% in the 1st quarter. Exchange Capital Management Inc. now owns 1,016 shares of the industrial products company’s stock valued at $372,000 after buying an additional 32 shares during the last quarter. Finally, D Orazio & Associates Inc. boosted its position in Caterpillar by 4.0% in the 1st quarter. D Orazio & Associates Inc. now owns 835 shares of the industrial products company’s stock valued at $306,000 after buying an additional 32 shares during the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CAT shares. Bank of America decreased their price objective on shares of Caterpillar from $385.00 to $376.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Barclays increased their price target on shares of Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 7th. Citigroup initiated coverage on shares of Caterpillar in a research report on Wednesday, June 26th. They set a “buy” rating and a $380.00 price target on the stock. Evercore ISI reduced their price target on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. Finally, Raymond James initiated coverage on shares of Caterpillar in a research report on Friday, June 28th. They set a “market perform” rating on the stock. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $336.31.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $351.36, for a total value of $1,119,081.60. Following the sale, the insider now owns 33,442 shares in the company, valued at $11,750,181.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Anthony D. Fassino sold 3,185 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $351.36, for a total value of $1,119,081.60. Following the completion of the transaction, the insider now directly owns 33,442 shares in the company, valued at $11,750,181.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Cheryl H. Johnson sold 1,508 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $350.00, for a total transaction of $527,800.00. Following the completion of the transaction, the insider now owns 18,515 shares of the company’s stock, valued at $6,480,250. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,668 shares of company stock worth $2,665,760. 0.33% of the stock is owned by company insiders.

Caterpillar Price Performance

Shares of NYSE:CAT opened at $355.13 on Thursday. The firm’s 50 day moving average is $342.17 and its two-hundred day moving average is $344.34. Caterpillar Inc. has a 52 week low of $223.76 and a 52 week high of $382.01. The firm has a market capitalization of $173.68 billion, a P/E ratio of 16.03, a PEG ratio of 1.56 and a beta of 1.10. The company has a current ratio of 1.28, a quick ratio of 0.78 and a debt-to-equity ratio of 1.39.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 EPS for the quarter, beating the consensus estimate of $5.53 by $0.46. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. The company had revenue of $16.69 billion for the quarter, compared to analyst estimates of $16.91 billion. During the same quarter last year, the business earned $5.55 earnings per share. Caterpillar’s revenue was down 3.6% compared to the same quarter last year. Analysts anticipate that Caterpillar Inc. will post 21.88 earnings per share for the current year.

Caterpillar announced that its Board of Directors has authorized a share buyback program on Wednesday, June 12th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the industrial products company to purchase up to 12.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Caterpillar Profile

Caterpillar Inc manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in worldwide. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, track-type tractors, excavators, telehandlers, motor graders, and pipelayers; compact track, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.